Private Mortgage

Have a low credit score? Yes, you can still apply for a private loan

Get Approved For Private Mortgage in Mississauga Today 

You might not qualify for a traditional mortgage for a number of reasons. Don’t let this affect your chances of becoming a homeowner in Mississauga. Team BobCat Mortgages works with experienced and reliable private mortgage lenders that’ll fund your property even with a credit score less than 600. Apply with us today and get approved in less than 7 days.

FAQ

The Answers You Need

People choose to apply for a private mortgage when they’re unable to prove their income to conventional lenders. In such a scenario, our private lenders will take industry standards to estimate your current income

1. How is my income calculated when applying for a private mortgage?

Mortgage approval should take anywhere between 2 to 7 days depending on the complexity of your application. We will keep you updated throughout the way. 

2. How long does the approval take in Mississauga?

Yes, there are certain fees that you have to pay. Overall, it can be anywhere between 1 to 3% of your mortgage amount. You can include it into your monthly mortgage payments, so there’s no need to pay them upfront.

3. Are there any fees to be paid for applying for a private mortgage?

Yes, all self-employed Canadians and PRs are eligible for a private mortgage. Please reach out to us today to learn more.

4. I am self-employed. Am I eligible?

You can choose between three types of private lenders including private mortgage lenders (individuals who loan money), mortgage investment corporations, and syndicated mortgages. In the private lending sector, lenders are specialised. This means that some only offer residential mortgage, some only offer commercial mortgage, while others fund only large projects.

5. What are the types of private lenders available to me in Mississauga?

Private mortgage solutions with low mortgage rates and flexible payment solutions. 

Benefits of Working With Team BobCat

Always negotiate in your best interests

We strive to represent your best interests while negotiating a mortgage approval process on your behalf. You don’t need to worry about hidden fees, surprise expenses, or any undisclosed amounts.

Get approved for up to 85% of the property value

Until traditional mortgages where you need 20% down payment, for private mortgages you only need 15% down payment. The remaining 85% can be accessed through private lenders. Interest rates vary largely depending on your application but should range between 10 to 18%.

Mortgage solutions for self-employed and newcomers to Canada

If you’re in a situation that is unfavourable for lending, we promise to get you approved through our reputable private lenders who will consider your credit history, income, and loan to value ratio.

Save money with low mortgage rates 

When you apply for a mortgage through us we send your application to a number of mortgage lenders. We’ll find you the most competitive rate and save you thousands of dollars in the long run.

Completely digital mortgage application process

Our application is simple and straightforward and can be done completely online. We are only a call away and always available to answer any questions you have.

Best financial advice for future

Our biggest reason to become mortgage agents is to help Canadians and PRs improve their financial situation through real estate. Once you become our client, you’re forever a member of our Team BobCat Mortgages family.

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